Percentages for S-Mint Memorials in CA
Posted: Mon Mar 28, 2011 2:21 am
Well, I just did a test to see what kind of percentages I would get out here in CA for S-Mint Memorials (1968-1974). Plus I wanted to see if I could pull enough to actually re-sell here in rolls etc. Here is what I came up with:
-Time spent: One hour.
-About 1565 coppers manually checked (previously double Ryedale sorted). Cu pennies weight was approx 10 lbs , therefore 145/lb)= 1450. Plus the 115 S-Mints that I manually pulled. Approx. 1450 + 115 = 1565.
-Percentage: 7.3% S-Mints
My thoughts: Well, I'm definitely finding a LOT more S-Mints here on the west coast, versus the east coast. So in that respect, I'm happy. Plus plenty of BU S-Mints that go in little 2x2 cards. HOWEVER, the lesson that I have learned is that it's not worth my time to pull them and re-sell them in rolls of 50, or bagged in large amounts (ie 1000-5000) for that matter. I think the going rate here is 3 cents each or $1.50/roll, for a total profit of $1.00 per roll. So at 115 S-Mints for one hour of my time, I make $3.45 minus $1.15 face/cost = $2.30 profit. Nope, not for me.
Then I was thinking that a further sort for premium/perfect (nice brown patina), non-dirty S-Mint pennies could yield me 3.5 cents per S-Mint, but that would still only be $1.75 per roll. Sigh. Oh well...it was worth a try though!! After all, you don't learn until you try, right???
Now if I could just create a Ryedale unit that digitally scans for Mint marks..........
-Time spent: One hour.
-About 1565 coppers manually checked (previously double Ryedale sorted). Cu pennies weight was approx 10 lbs , therefore 145/lb)= 1450. Plus the 115 S-Mints that I manually pulled. Approx. 1450 + 115 = 1565.
-Percentage: 7.3% S-Mints
My thoughts: Well, I'm definitely finding a LOT more S-Mints here on the west coast, versus the east coast. So in that respect, I'm happy. Plus plenty of BU S-Mints that go in little 2x2 cards. HOWEVER, the lesson that I have learned is that it's not worth my time to pull them and re-sell them in rolls of 50, or bagged in large amounts (ie 1000-5000) for that matter. I think the going rate here is 3 cents each or $1.50/roll, for a total profit of $1.00 per roll. So at 115 S-Mints for one hour of my time, I make $3.45 minus $1.15 face/cost = $2.30 profit. Nope, not for me.
Then I was thinking that a further sort for premium/perfect (nice brown patina), non-dirty S-Mint pennies could yield me 3.5 cents per S-Mint, but that would still only be $1.75 per roll. Sigh. Oh well...it was worth a try though!! After all, you don't learn until you try, right???
Now if I could just create a Ryedale unit that digitally scans for Mint marks..........